PM Narendra Modi declared his victory in India's elections as results showed a landslide. Modi's government will have its work cut out: India's economy is slowing, its shadow banking sector is in crisis and credit lending from banks is still weak.
Expectations for Modi to carry out important, but challenging, reforms that will drive growth are high among investors and India watchers.
Prasad pointed out that Modi's government was unable to deliver some of the reforms in areas like land and labor during its previous term. "Let's see over the next few months, whether the government is in a position to deliver on those expectations."More than 900 million people were eligible to vote in the polls that stretched over seven phases from April 11 to May 19.
In this year's elections, political parties resorted to their "traditional playbook of identity politics" to shore up support for their candidates, according to Pratyush Rao, associate director and lead analyst for India and South Asia at Control Risks. Even if BJP appears dominant, analysts said that the party will still need the support of its allies within the coalition to pass politically contentious major reforms — such as amendments to India's land and labor laws, disinvestment policies and subsidy reforms.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indian shares zoom as early trends show second-term for Prime Minister ModiIndian shares zoom as early trends show second-term for Prime Minister Narendra Modi by ArnabP07 For more on IndiaElections2019, follow our live blog:
Read more »
Narendra Modi Has Won Another Term As Indian Prime Minister In A Landslide WinWith most votes counted, Modi and his Hindu nationalist BJP are on course for re-election with a stronger majority than 2014.
Read more »
Modi chooses woman facing terrorism charges as election candidateIndian Prime Minister Narendra Modi chooses woman facing terrorism charges as election candidate by zebatweets
Read more »
Instant View: India PM Modi's party storms to thumping majority in electionIndian Prime Minister Narendra Modi on Thursday swept to a huge election victory...
Read more »
India's Modi set to return to power with a bigger majority, exit polls showIndian Prime Minister Narendra Modi is likely to return to power with an even bi...
Read more »
Modi set to return to power with a bigger majority, exit polls showIndian Prime Minister Narendra Modi is likely to return to power with an even bi...
Read more »
Indian PM Narendra Modi on course for decisive electoral victoryPM Modi looks set to beat expectations and secure a decisive electoral victory, setting up his Hindu nationalist party to govern India for another 5 years.
Read more »
Narendra Modi is headed for a second term as India’s prime ministerIf the results hold up, it would be an even bigger victory for Modi than the historic 2014 landslide that brought him to power. As the scale of his triumph seemed to become clear, Modi tweeted: “India wins yet again!”
Read more »
Indian stocks hit record highs as investors cheer likely Modi winThe prospect of a second term for Indian Prime Minister Narendra Modi sent the country's stock markets soaring to record highs ElectionResults2019
Read more »